The Second Salary plan by National Bonds aims to help UAE residents generate supplementary income. Picture used for illustrative purposes. Image Credit: Shutterstock

Dubai: If you have always wanted an additional stream of income but have been unable to start a second job, you now have the option to earn a second salary through an investment programme offered by National Bonds.

The Second Salary plan, which was launched by the organisation in March, is designed to help UAE residents generate supplementary income and safeguard their future financial stability, National Bonds said in a statement to Gulf News.

“As a first-of-it-kind savings plan, Second Salary aims to empower people by offering a personalised additional income-generating solution to ensure that individuals continue to enjoy their desired lifestyle. The plan is the first part of a long-term programme aiming to provide the best retirement plans in the UAE,” it said.

The plan also includes additional rewards and cash prizes, according to National Bonds.

“As customers' savings tenure progresses, they continue to earn a highly competitive profit rate and get up to 30 times the chances in our Dh35 million Rewards Programme draws. We encourage all interested individuals to carefully review the terms and conditions of the program before enrolling,” it said.

How the plan works

According to National Bonds, the plan comprises of two parts – the first phase, when the subscriber deposits a fixed amount every month into his or her National Bonds account for a fixed tenure, and the second phase, when he or she starts receiving monthly payouts over a fixed duration.

In the saving phase, you would need to deposit money (with a minimum amount of Dh1,000) every month over a period of your choosing between three and 10 years.

In the income phase, you will begin to draw income every month, as you will receive your base investment amount every month, along with the accumulated profit. For example, if you save Dh5,000 monthly for 10 years, you could expect to receive Dh7,500 monthly for the subsequent 10 years. Similarly, if you were to save Dh5,000 per month for five years, but choose to redeem within a period of the next three years, you could take home a monthly amount of Dh10,020 for three years.

“With complete flexibility provided to customers over the amount and tenure of the savings and salary phases, customers can devise their Second Salary plan to create the safety of a supplementary monthly income for the future. Customers can also choose to redeem their savings as a lump sum instead of monthly payments to fulfil their financial goals such as payment of education fees, down payment for a house, or investments,” National Bonds said in a statement to Gulf News.

Dh 1000

Minimum monthly investment for a minimum period of three years to enrol in the Second Salary plan

How to apply for the scheme

Both existing National Bonds customers and new customers can sign up for the Second Salary programme through the ‘National Bonds’ mobile application by following these steps:

1. Log in to your account or register (you can use UAE PASS for login/register).
2. Choose the ‘Second Salary’ option from the home page.
3. Click on ‘Purchase’.
4. Fill out the form.
5. Submit your application.
6. Once your application is approved, the amount will be deducted monthly.

Registering for the programme is free and there are no additional costs, according to National Bonds.

What happens if I can’t make a monthly investment?

According to National Bonds, customers have the flexibility to take a payment holiday for up to two months per year without any charges.

“If more than two payments are skipped in a year, the plan will be cancelled and the balance will be converted into saving sukuk (a Shariah-compliant financial bond), on which the customer will be eligible to earn profit and rewards,” National Bonds said in a statement to Gulf News.


According to National Bonds, if a customer wishes to end the savings scheme before the completion of the tenure they have committed to, they can redeem their savings after a 90-day lock-in period, regardless of the tenure they have selected. The fee is waived if the customer completes the minimum saving period of three years.

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